Anixa Biosciences (NASDAQ:ANIX) Given "Buy" Rating at HC Wainwright

Key Points

• HC Wainwright has reiterated a "Buy" rating for Anixa Biosciences with a price target of $7.00, indicating a potential upside of 131.79% from its current price.
• Other analysts have also expressed positive sentiments, with D. Boral Capital setting a target of $10.00 and an average consensus target price of $9.00 among research analysts.
• Anixa Biosciences recently reported earnings of ($0.07) per share, beating the consensus estimate and reflecting growing interest from institutional investors who own 29.13% of the company's shares.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report)'s stock had its "buy" rating restated by stock analysts at HC Wainwright in a research report issued on Thursday,Benzinga reports. They currently have a $7.00 price objective on the stock. HC Wainwright's price objective would suggest a potential upside of 96.91% from the company's current price.

Other research analysts also recently issued reports about the company. Wall Street Zen raised Anixa Biosciences from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. D. Boral Capital reissued a "buy" rating and issued a $10.00 price objective on shares of Anixa Biosciences in a research note on Tuesday, September 9th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $9.00.

Anixa Biosciences Trading Up 1.0%

NASDAQ:ANIX traded up $0.04 during mid-day trading on Thursday, hitting $3.56. 214,475 shares of the company's stock were exchanged, compared to its average volume of 106,152. The company has a 50 day simple moving average of $3.10 and a 200-day simple moving average of $2.97. Anixa Biosciences has a fifty-two week low of $2.07 and a fifty-two week high of $4.20. The firm has a market capitalization of $117.02 million, a P/E ratio of -10.16 and a beta of 0.58.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) last released its quarterly earnings results on Wednesday, September 10th. The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.03. As a group, analysts expect that Anixa Biosciences will post -0.41 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Lewis H. Titterton, Jr. bought 10,000 shares of the company's stock in a transaction on Thursday, July 31st. The shares were purchased at an average price of $3.08 per share, for a total transaction of $30,800.00. Following the completion of the transaction, the director directly owned 953,334 shares in the company, valued at approximately $2,936,268.72. The trade was a 1.06% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders acquired 35,000 shares of company stock worth $110,700 over the last three months. 25.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Anixa Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Focus Partners Wealth purchased a new stake in shares of Anixa Biosciences in the fourth quarter worth $162,000. Jane Street Group LLC raised its position in shares of Anixa Biosciences by 37.2% in the second quarter. Jane Street Group LLC now owns 41,800 shares of the company's stock worth $138,000 after buying an additional 11,340 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of Anixa Biosciences in the first quarter worth $35,000. Marshall Wace LLP purchased a new stake in shares of Anixa Biosciences in the second quarter worth $39,000. Finally, Benjamin Edwards Inc. purchased a new stake in Anixa Biosciences during the second quarter valued at about $37,000. Hedge funds and other institutional investors own 29.13% of the company's stock.

Anixa Biosciences Company Profile

Anixa Biosciences, Inc, a biotechnology company, develops therapies and vaccines focusing on critical unmet needs in oncology and infectious diseases. The company's therapeutics programs include the development of a chimeric endocrine receptor T-cell therapy, a novel form of chimeric antigen receptor T-cell (CAR-T) technology focusing on the treatment of ovarian cancer.